State-owned Manganese Ore (India) Ltd (MOIL) on Wednesday (January 8) said it has been imposed a penalty of ₹16.77 crore by the Collector of Balaghat for exceeding the production limit at its Tirodi mine beyond the environmental clearance (EC) and consent to operate (CTO) for the years 1993-94 to 1995-96 and 2006-07 to 2008-09.
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“…this is to inform you that the company has received an order dated 03.01.2025, from the Collector of Balaghat imposing a penalty of ₹ 16,77,08,724.88 in respect of excess production in Tirodi Mine beyond Environmental Clearance(EC)/consent to operate (CTO) during the years 1993-94 to 1995-96 and 2006-2007 to 2008-09…,” MOIL said in a regulatory filing.
The penalty was levied for violations related to production beyond the prescribed limits during the mentioned periods. The company has stated that it will appeal the order before the appellate authority. MOIL confirmed that the penalty will not have any impact on its ongoing operations or activities.
Also Read: MOIL hikes prices of all ferro grades of manganese ore effective January 1
Last week, MOIL revised the prices of manganese ore, effective January 1, 2025. The prices of all ferro grades of manganese ore with manganese content of Mn-44% and above have been increased by 1% over the prevailing prices, the company said in an exchange filing.
Similarly, the prices of all other ferro grades of manganese ore with manganese content below Mn-44% have been increased by 5% over the prevailing prices. The prices of all silico manganese grades or SMGR (Mn-30% and Mn-25% and Mn20%), fines and chemical grades have also been increased by 5% on the prevailing prices.
The basic price of electrolytic manganese dioxide (EMD) of ₹205,000 PMT has been continued for January, the miniratna said in a statement.
Also Read: Shares of this ‘Miniratna’ PSU surge over 8% to near record levels after its Q1 business update
Shares of MOIL Ltd ended at ₹338.25, down by ₹5.05, or 1.47%, on the BSE.
(Edited by : Shoma Bhattacharjee)
